Startup Profile
The problem we're solving
Electricity accounts for about 60% of the cost of hydrogen production. Energy costs can be reduced by allowing facilities to trade in the wholesale electricity market. Currently, no solution exists to allow this type of operation. If a facility is powered by intermittent renewables, it may face periods of reduced or halted production due to gaps in energy supply, hindering the facility's ability to meet its offtake delivery commitments and leading to contractual penalties and reputational risks
Our solution
Vireo Energy offers a novel solution that applies accurate AI-driven forecasts, customised algorithms, cloud-based model predictive control, and a hardware interface to reliably and cost-effectively operate and forecast hydrogen production, hydrogen storage and balance of plant.
Our differentiator
Our system can save a 10MW hydrogen production facility about 20% of its electricity costs, increase reliability, and report on emissions under the Guarantee of Origin Scheme.
Biggest achievement
Completed Melbourne University MAP Velocity Program and fully operating MVP. Numerous hydrogen industrial partnership agreements are currently being negotiated.
